LNT parent to acquire Claire’s

Pembroke Pines, Fla. – Apollo Management, the private investment partnership that owns Linens ’n Things, will soon add tween/teen fashion accessories retailer Claire’s Stores to its roster of retailers. Claire’s management said it has “entered into a definitive agreement to be acquired by an affiliate of Apollo Management” in a $33-per-share transaction that equates to about $3.1 billion.

Claire's previously signed a licensing agreement for Whisper Soft Mills to make a full line of bedding and home décor products under the Claire’s Room brand.

The company operates more than 3,300 stores inNorth America,Europe, theMiddle East, andJapan, some via joint venture or license.